Pre Market Report, July 29, 106 | Stocks and Commodities

July 29, 106
Time: 9 am

Pre Market Report:

1. US markets once again closed almost flat.
2. Asian markets are also mixed.
3. Yesterday expiry was a surprising factor, Nifty expired withou any volatility.
4. Nifty traded within a range of about 30 points which is very rare for expiry day trade.
5. But the sentiment seems to be very positive.
6. Even yesterday FIIs have bought for more than 1000 crores in Cash market.
7. F&O roll overs also seems to be very good.
8. Nifty 9000 Call option is being traded actively.
9. That will be the next target if GST, RBI policy, BoE all go as expected.
10. Any time, BoJ may announce its policy now and today's Asian trade will be influenced by BoJ.
11. ICICI Bank and L&T will declare results today, both are index heavy weights.
12. The results will decide the course of the market in the afternoon.
13. Last time L&T declared results after the market hours, we do not know this time.
14. Nifty is likely to consolidate with stock specific actions.
15. Next week the action will begin with RBI policy on Tuesday and GST sometimes next week.
16. As usual monthly Auto sales data, petrol price revision, PMI data, US jobs data will influence the markets next week.
17. Today we should be happy if markets consolidate with plus or minus 30 or 40 points.
18. Nifty future should take support at 8620 and resistance will be at 8740.